4910 Cougar Ct N #103 · Pelican Marsh, FL 34109

$339,000

2 bd · 2.0 ba · 1,377 sqft · Condo · 33 Days on market

Built 2004 Good condition $400/mo HOA · 13% of rent ↓ 10% since listing

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Why this score? — see what drove the D grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +9.4/30.0
• ARV discount +7.5/15.0
• Appreciation +5.1/10.0
• Schools +5.0/10.0
• 1% rule +4.3/10.0
• Condition / age +4.0/5.0
• Rent growth +2.7/5.0
• DSCR +2.6/10.0
• Livability +2.5/5.0

Listing remarks

One or more photo(s) has been virtually staged. Designed around a highly livable layout, this spacious 2-bedroom plus den, 2-bath condo with a detached 1-car garage offers an inviting blend of comfort and an unbeatable location west of I-75 within the boutique community of Bermuda Palms. Inside, the residence features an expansive main living area, a versatile den/flex space ideal for a home office or additional guest accommodations, and generously sized bedrooms. The large kitchen is thoughtfully appointed with stainless steel appliances, a breakfast bar for casual dining, a pantry for added storage, and an abundance of workspace, all wrapped in a timeless neutral palette that creates a br

Key facts

• Versatile den
• Community pool
• Community spa

Tags

• DETACHED GARAGE
• SCREENED LANAI
• COMMUNITY POOL
• COMMUNITY SPA
• VERSATILE DEN
• STAINLESS STEEL APPLIANCES

Property features AI

Finance

• Other: Association: AbilityManagement, Inc.
• Financial info: Total annual fees reported as $4,800; Lease restrictions apply
• HOA & community: Monthly condo fee $400 (quarterly fee $1,200); Association manages pool and spa/hot tub; Association fee includes grounds maintenance, management, pest control, pool, recreational facilities, sewer, trash and water; Pets allowed with limits (max pet weight 20 lbs)

Exterior

• Parking: 1-car garage
• Utilities: Public water; Public sewer; Public utilities
• Home design: Condominium; Residential property; One-level unit (floors: One); Faces north; Completed condition
• Construction: Stucco construction; Tile roof; Slab foundation; Building area reported as 1600 total
• Exterior features: Rear screened porch; Exterior storage; Irrigation equipment; Landscaped with trees; Paved access

Interior

• Kitchen: Dishwasher; Microwave; Range; Refrigerator; Eat-in kitchen
• Bedrooms: 2 bedrooms
• Flooring: Ceramic tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Ceiling fans; Eat-in kitchen; Living room and dining room combo; Open floorplan; Split bedroom layout; Window treatments (blinds and shades)
• Laundry & utility: Washer and dryer inside (in kitchen area)

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $339k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-241 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $304k (10.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $317k (6.6% below list).
• Recommended offer: $304k (10.3% below list) — sets the bar for cash-flow.

Location & tenants

• Location reads: area grade D — affects rentability + tenant quality, not the cash-flow math above.
• Collier (suburban): math 60% / reading 56% proficiency, ranked #16 of 73 in FL (top 22%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Pelican Marsh Elementary School (math 87% / reading 83%, grade A+, #35 of 2,144 statewide, top 2%, 709 students, 29% FRL); North Naples Middle School (math 79% / reading 73%, grade A, #34 of 571 statewide, top 6%, 903 students, 25% FRL); Barron Collier High School (math 62% / reading 68%, grade B, #76 of 667 statewide, top 11%, 1,650 students, 26% FRL) — zoned schools average 27% FRL vs 55% district-wide (28 pts lower); this property's tenant base skews higher-income than the district average.
• Zoned-school proficiency averages 75% at this address vs 58% district-wide (+17 pts) — the actual schools serving this property are materially stronger than the Collier average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: Rents flat; 424 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 3,520 units permitted in Collier County in 2024 (959 in 5+ unit buildings).
• This rent runs 41% of the median local income ($92k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $3k of equity ($2k loan paydown + $1k appreciation (0.3% local appreciation)).
• Collier County population projected at +30% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 8, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 33 days — a 3% lower offer ($329k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 2y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→30/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $304,123 (10.3% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 33 days. Have you received any prior offers? Is the seller open to a 10% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
7. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
8. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
9. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.93% ✗
• Cap rate: 5.44%
• Cash-on-cash: -3.05%
• DSCR: 0.86
• GRM: 8.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

0.29% appreciation · 0.92% rent growth · sell at horizon

5-year hold

• IRR: -6.0%
• Equity multiple: 0.72×
• Total profit: $-26,741
• Equity at exit: $103,463

10-year hold

• IRR: -1.7%
• Equity multiple: 0.82×
• Total profit: $-17,533
• Equity at exit: $128,455

Cash invested: $94,920 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 87 Strongly Landlord-Friendly
• State Florida: 87 Strongly Landlord-Friendly · R+3
• County: — inherits STATE
• City: — inherits STATE

3-day pay-or-quit; preempts local rent control; landlord-friendly statutes. Court speed varies by county.

Methodology + full state rankings →

ZIP-level market 34109

• Home prices YoY: 0.1%
• Rents YoY: 0.9%
• Active inventory: 424
• Price-to-rent: 8.9×

Monthly cashflow live

• Estimated rent: $3,167 high
• Mortgage (P&I): −$1,778
• Tax est. 1.5%: −$424 /mo · $5,085/yr
• Insurance: −$141
• HOA: −$400
• Vacancy / Maint / Mgmt: −$665
• Net cashflow: $-241

Break-even live

Break-even rent $3,472

Max offer price $304,123

Occupancy floor —

Sensitivity live

Price	-10% $-7	-5% $-124	+0% $-241	+5% $-358	+10% $-475
Rent	-10% $-491	-5% $-366	+0% $-241	+5% $-116	+10% $9
Rate	-1.0pp $-70	-0.5pp $-155	base $-241	+0.5pp $-329	+1.0pp $-418

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $84,750
• Closing costs: $10,170
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4910 Cougar Ct N Unit 1-205 Naples, FL	2.0	2.0	1377	$2,050	$1.49	15d	1	0.03mi
4945 Cougar Ct S #105 Naples, FL	2.0	2.0	1377	$2,750	$2.00	15d	1	0.06mi
5000 Immokalee Rd Naples, FL	1.0–3.0	1.0–2.0	1115	$3,186	$2.86	15d	68	0.09mi
4940 Cougar Ct S Unit 1545947P Naples, FL	2.0	2.0	1367	$2,185	$1.60	15d	1	0.09mi
4965 Sandra Bay Dr #102 Naples, FL	2.0	2.0	1377	$2,200	$1.60	15d	1	0.11mi
4950 Deerfield Way #202 Naples, FL	2.0	2.0	1388	$2,000	$1.44	23d	1	0.14mi
4960 Deerfield Way Unit E102 Naples, FL	2.0	2.0	1202	$4,250	$3.54	15d	1	0.16mi
4970 Deerfield Way Unit F-203 Naples, FL	2.0	2.0	1388	$1,990	$1.43	15d	1	0.17mi
4910 Deerfield Way #103 Naples, FL	2.0	2.0	1200	$4,800	$4.00	23d	1	0.20mi
4910 Deerfield Way Unit A-203 Naples, FL	2.0	2.0	1388	$5,500	$3.96	15d	1	0.20mi
5045 Cedar Springs Dr #103 Naples, FL	2.0	2.0	1202	$5,000	$4.16	25d	1	0.21mi
5045 Cedar Springs Dr #203 Naples, FL	2.0	2.0	1427	$4,200	$2.94	25d	1	0.21mi
5025 Cedar Springs Dr #102 Naples, FL	2.0	2.0	1202	$1,590	$1.32	15d	1	0.22mi
5025 Cedar Springs Dr #102 Naples, FL	2.0	2.5	1202	$3,510	$2.92	25d	1	0.22mi
4680 Saint Croix Ln Naples, FL	1.0–3.0	1.0–2.0	931	$2,000	$2.15	15d	2	0.23mi
4710 Saint Croix Ln #217 Naples, FL	2.0	2.0	1045	$2,200	$2.11	25d	1	0.23mi
4680 Saint Croix Ln #512 Naples, FL	3.0	2.0	1196	$2,490	$2.08	25d	1	0.23mi
4720 Saint Croix Ln #137 Naples, FL	2.0	2.0	1200	$2,200	$1.83	25d	1	0.29mi
4650 Saint Croix Ln #725 Naples, FL	2.0	2.0	913	$2,150	$2.35	15d	1	0.29mi
4620 Saint Croix Ln Naples, FL	2.0	2.0	982	$1,800	$1.83	15d	2	0.31mi
4610 Saint Croix Ln #1027 Naples, FL	3.0	2.0	1196	$4,000	$3.34	25d	1	0.32mi
5145 Cobble Creek Ct #202 Naples, FL	2.0	2.0	1798	$2,600	$1.45	23d	1	0.34mi
4635 Saint Croix Ln #1214 Naples, FL	2.0	2.0	913	$1,900	$2.08	15d	1	0.35mi
5105 Cedar Springs Dr #101 Naples, FL	2.0	2.0	1650	$7,000	$4.24	25d	1	0.35mi
15145 Palmer Lake Cir #103 Naples, FL	3.0	2.0	1571	$7,000	$4.46	25d	1	0.37mi
15144 Palmer Lake Cir #102 Naples, FL	2.0	2.0	1375	$6,500	$4.73	25d	1	0.40mi
5330 Andover Dr #102 Naples, FL	3.0	2.0	1740	$2,550	$1.47	25d	1	0.40mi
5325 Andover Dr #101 Naples, FL	2.0	2.0	1654	$5,250	$3.17	25d	1	0.44mi
15126 Palmer Lake Cir Naples, FL	2.0–3.0	2.0	1254	$3,000	$2.39	25d	2	0.48mi
5455 Worthington Ln #202 Naples, FL	2.0	2.0	1427	$3,900	$2.73	25d	1	0.51mi
5455 Worthington Ln #103 Naples, FL	2.0	2.0	1202	$5,000	$4.16	25d	1	0.51mi
300 Diamond Cir #302 Naples, FL	3.0	2.0	1755	$2,600	$1.48	25d	1	0.53mi
194 Wickliffe Dr Naples, FL	3.0	2.0	1798	$3,500	$1.95	25d	1	0.54mi
5657 Whisperwood Blvd #204 Naples, FL	2.0	2.0	1793	$6,000	$3.35	25d	1	0.54mi
5645 Whisperwood Blvd #504 Naples, FL	2.0	2.0	1793	$6,000	$3.35	25d	1	0.55mi
5632 Whisperwood Blvd #1601 Naples, FL	3.0	2.0	1856	$8,000	$4.31	25d	1	0.56mi
5935 Northridge Dr Naples, FL	2.0	2.0	1671	$2,995	$1.79	25d	1	0.59mi
600 Diamond Cir #607 Naples, FL	2.0	2.0	1680	$4,800	$2.86	25d	1	0.63mi
10805 Queen Anne Ln #203 Naples, FL	2.0	2.0	1252	$4,800	$3.83	25d	1	0.66mi
700 Diamond Cir #706 Naples, FL	3.0	2.0	1786	$2,700	$1.51	25d	1	0.68mi

HOA detail condo

• Monthly dues: $400 · $4,800/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 20 events

1. 2026-06-21
   days on market $339,000 Active 33 DOM
2. 2026-06-18
   days on market $339,000 Active 30 DOM
3. 2026-06-17
   days on market $339,000 Active 29 DOM
4. 2026-06-16
   days on market $339,000 Active 28 DOM
5. 2026-06-15
   days on market $339,000 Active 27 DOM
6. 2026-06-14
   days on market $339,000 Active 25 DOM
7. 2026-06-10
   days on market $339,000 Active 22 DOM
8. 2026-06-09
   days on market $339,000 Active 21 DOM
9. 2026-06-08
   days on market $339,000 Active 20 DOM
10. 2026-06-07
    days on market $339,000 Active 19 DOM
11. 2026-06-03
    days on market $339,000 Active 15 DOM
12. 2026-06-02
    days on market $339,000 Active 14 DOM
13. 2026-06-01
    days on market $339,000 Active 13 DOM
14. 2026-05-31
    days on market $339,000 Active 12 DOM
15. 2026-05-30
    days on market $339,000 Active 11 DOM
16. 2026-05-19
    listed $339,000 Active
17. 2025-02-27
    status Active
18. 2025-02-16
    historical
19. 2024-11-07
    listed $375,000 Active
20. 2024-11-01
    listed $375,000 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 2/10 Low FEMA zone X (unshaded) · 3% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥107°F today · 30 d/yr by 30 yrs out
• 💨 Wind 10/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $38,001
• − Mortgage interest: −$18,989
• − Property taxes: −$5,085
• − Insurance: −$1,695
• − Repairs & maintenance: −$3,040
• − Management: −$3,040
• − HOA: −$4,800
• − Depreciation: −$9,862
• Taxable loss: −$8,510
• Est. tax savings @ 24.0%: +$2,042
• After-tax cash flow: $-850/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Condition & rehab AI · 13 photos

Good 80/100 Cosmetic rehab

This well-maintained and updated condo is ready for move-in with minor cosmetic improvements that can significantly enhance its value.

Value-add opportunities

• Both Paint the exterior — Painting the exterior can enhance curb appeal and increase both resale and rental value.
• Both Inspect and clean the gutters — Maintaining the gutters can prevent water damage and improve the home's overall appearance.

Renovation cost estimate screening

Value-add ROI direction

• Both Paint the exterior — Painting the exterior can enhance curb appeal and increase both resale and rental value. ↑
• Both Inspect and clean the gutters — Maintaining the gutters can prevent water damage and improve the home's overall appearance. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Collier
• NCES district ID: 1200330
• Math proficiency: 60% ▼ -4.00%
• Reading proficiency: 56% ▼ -2.00%
• Median HH income: $58,275
• Composite: 50.23/100
• National rank: #1892
• State rank: #16 of 73 in FL

Livability — Pelican Marsh

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• County: Collier County · 396,295 people
• Metro: Naples-Marco Island, FL
• Population (ZIP): 27,273
• Household income: $92,259
• Rent vs Own: 33.3% rent · 66.7% own
• Severe rent burden: 1712.0

Population outlook (Collier County) Hauer SSP2

• Today (2025): 420,858 people
• By 2030: 450,054 · +6.9%
• By 2040: 502,232 · +19.3%
• By 2050: 544,932 · +29.5%
• By 2075: 627,203 · +49.0%
• By 2100: 659,015 · +56.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (78%)
• Race & ethnicity: White 78% Hispanic / Latino 11% Two or more races 9% Black 4% Asian 4%
• Hispanic origin (detail): Mexican 1% Puerto Rican 1% Cuban 3%
• Common ancestry: Romanian 5% Scotch-Irish 3% Lithuanian 2%
• Foreign-born: 20% · Canada, Jamaica, Vietnam
• Languages at home: 77% English-only · Spanish 10% Other Indo-European 5% Russian/Polish/Slavic 3%

Political lean MEDSL · Collier

• 2024 margin: Solid R (+33.1) · D 33.1% · R 66.2%
• 2008→2024 swing: -10.6pp toward R · 2008: -22.5pp · 2024: -33.1pp
• All cycles: 2024: R+33.1 2020: R+24.7 2016: R+26.0 2012: R+30.1 2008: R+22.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 0.29%
• Current HPI: 279.357
• Rent YoY: ▲ 0.92%
• Metro: Naples-Marco Island, FL
• State GDP YoY: ▲ 3.28%
• F500 in state: 36

Industry mix (Fortune 500 HQ in FL)

Industry	F500 HQs	Revenue
▸Industrial Technology	2	$29B
▸Insurance	2	$17B
▸Retail	1	$60B
▸Technology Distribution	1	$58B
▸Homebuilding	1	$35B
▸Technology Manufacturing	1	$35B

Price history

-9.6% since first listed

5 events — show timeline

• 2026-05-19 Listed $339,000 Stellar MLS as Distributed by MLS Grid
• 2025-02-27 Relisted — BEARMLS
• 2025-02-16 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2024-11-07 Listed $375,000 BEARMLS
• 2024-11-01 Listed $375,000 Stellar MLS as Distributed by MLS Grid